Charlty Registration No. 1158825 EAsfLEIGH BASICS BANK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 EASTLEIGH BASICS BANK LEGAL AND ADMINISTRATIVE INFORMATION Thistees Mr Dan Braln Mr Chris Goodhead Mr Dave Keatin8 Mr Oom Hooley Mrs Hazel Bateman Charlty number 1158825 Prlnclpal addr•$s UnltG6 Wells Place Eastlel8h Hampshlre 5050 5PP EASTLEIGH BASICS BANK CONTENTS Page Trustees, report Statement of trustees, responslbllltles Independent examlner's report Statement of flnanclal acdvltles Balance sheet Notes to the accounts 8-11 EASTLEIGH BASICS BANK TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and flnanclal statements for the year ended 31 December 2023. The accounts have been prepared in accordance with the accounting pollcles set out In note I to the accounts and comply with the charity's constitution. the Chariues Act 2011 and "Accounting and Reportin8 by Charitles: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191". Objectlves and artlvltles The charlty's objects are the relief of poverty and financial hardship for public benefit In Eastleigh and surrounding areas in particular but not exclusively by provldlng food to Individuals and famllles in need. In furtherance of these object5, the charity operates a food bank in Eastleigh town centre. The trustees have pald due regard to guidance Issued by the Charlty Commlsslon In decidlng what activitle5 the charity should undertake. AChIeven￿nts and performance Eastleigh Basics Bank was open to the publlc throughout the year, providing 7,77112022.. 5,9401 people with a week's supply of food. Slnce opening in 2011 approximately 42,100 people have been fed. The charityls a community based or8anisation, worklng wlth for example.. Local a8encies which ￿fer people who are in need of support Schools and churches which organi5e food collections and recelve Information about our work Supermarkets which supply spare food and allow us to have donation points Durlng the year we have been generously supported by so many people and businesses. We are extremelv 8rateful for the on8oin8 support of our landlords at We115 Place, Bradbeers. EASTLEIGH BASICS BANK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Revlew ot the year 2023 has continued to see a sustsined demand. We still have not re-implemented our old voucher limits or reintroduced our tea/coffee offering whilst cllents wait for thelr food packages to be made. This 15 due to the workload of doing so on our managers who continue to be stretched. Space is another challenge as the front of our shop remains primarily used to store the ready-made packs awaitin8 collection. Our operations remain resilient and efficient - although at the c05t of being able to Spend time Chatti￿ to clients and providing the level of love and compassion we feel is appropriate for a Christian organlsation. We continued to enjoy the falthful servSce of flve shop managers and five teams operating on a rotstion. We also grew our teams by an addltional member later in the year. This is supplemented by our supermarket collection team doing seven supermarket collectbons a week collecting the food donated by customers. Our warehouse facility is working well and our warehouse team doe5 a great job in manaBir our stocks, however it is much emptier these days than we have been used to. Even the baked bean mountain has become lust a few crates havlng said that we decided we needed to invest in a van for moving stock between the warehov5e and shop as it was takin8 Its toll on volunteerg cars and not all servSn8 In the warehouse had suitable cars. The war sn Ukraine has less of an impact now as many who relocated have, we presume integrated into UK society, although we maintain a Bood relatlonship with a few who use us for fresh food supplies which we often need to flnd a home for at the end of the week. The support we received over the last year has remained strong but unable to keep up with the demand. As predicted we have had to spend considerable sums to buy food to ensure stocks don't run out and ajr urgently needed food/es5entials list has been very lon8 for some time. We lost a lon8 Standin8 excelent manager to other commitments but thankfully found a stand in through to April 2024, whilst we recrut a new manager. We have sufficient reserves to meet thls demand in the medium term but looking ahead we recognise that there may be a time when we need to increase funding or lind more efficient meansto manage cllent usage to avoid putting a strain on our finance5. A paid member of staff may be requirlxl in due course but at this moment we are confident we can contlnue as a fully volunteer run organisation and elebrate this. Flnanclal revlew It is the policy of the charity that unrestricted funds which have not been designated for a specthc use should be maintained at a level equivalent to between three and nine months expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a signlff cant drop In donatlons or a significant rise in demand, they will be able to continue the charity's current activities while consideration IS 8iven to ways in which additional funds may be raised. Reserve levels at the year end of £140,315 were within this range. To date we have operated without the need for paying Staff. We acknowledge the great commitment of our volunteers, the monetary value of their time being in excess of £66,000 for 2023. The trustees have a55essed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to those major risks. EASTLEIGH BASICS BANK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structurei governance and rnanagernent The charity is a Charitable Intorporated OrganIsa￿on I"CIO"I reglstered with the Charity Commission on 9 October 2014. Eastleigh Basics Bank was setup by the churches of Eastleigh to support those who are experiencing financial difficulty and need short term support through the provision of food. It Is operated and managed entirely by volunteers. The trustees who served durlng the year were.. Mr Dan Brain Mr Chris Goodhead Mr Dave Keating Mr Dom Hooley Mr5 Hazel Bateman Mana8ement takes the form of a committee of trustee5 and other volunteers, wlth day to dav responslbility dele8ated to the shop managers. New trustees are identified and appoSnted by the existing commlttee. None of the trustees have any beneftcial interest in the charitv. The trustees, report wa5 approved by the trustees and slgned on thelr behalf by: Mr Dan Braln Trustee Dated.. 23 September 2024 EASTLEIGH BASICS BANK srATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees are ￿sponSible for preparin8 the Trustees, Report and the financial 5tstements in accordance with applicable law and Unlted Kingdom Accountin8 Standard5 (United Kin8dom Generally Accepted Accounting Practitel. The law appllcable to charities in England and Wales requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charlty and of the incomin8 resources and application of resources of the charity for that year. In preparin8 these financial statements, the trustees are required to.. select suitable accounting pollcles and then apply them consi5tently,' observe the method5 and principles in the charl￿e$ SORP; make jud8ements and estlmates that are reasonable and prudent,. state whether appllcable accountln8 Standards have been followed, subject to any material departures disclosed and explalned in the financial statements,. and prepare the flnancial statement5 on the 8olng concern basis unless it is inapproprlate to presu￿￿ that the charity will continue In operation. The trustees are responslble for keeplng sufflclent accountlng records that dlsclose wlth reasonable atcuracv at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charlty (Account5 and Reports) Regulations 2008 and the provisions of the trust deed. They are also respon51ble for safeguarding the assets of the charity and hence fcf taking reasonable steps for the preventfjon and detec￿on of fraud and other irregularitles. EASTLEIGH BASICS BANK INDEPENDENT EXAMINER'S REKIRT TO THE TRUSTEES OF EASTLEIGH BASICS BANK I report to the trustees on my examinatlon of the accounts of Ea5tleigh Baslcs Bank I'the CharitW'I for the year ended 31 December 2023, which are set out on pages 6 to 11. Responslblllties and b•s1$ of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance ￿9th the requlrements of the Charitles Act 20111"the Act"). I report in respecl of my examinatlon of the Charity's account5 carried out under sectlon 14S of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions 8lven by the Charity Comm15sion under section 1451511bl of the Act. Independent examlner's ststement I have completed my examination. I confirm that no materlal matters have come to my attention In connethon with the examination whlch gives me cause to believe that in, any material respect.. the accounfjng record5 were not kept in accordance with sectlon 130 of the charl￿e5 Act,. or the accounts did not accord with the accountlng records; or the accounts dld not comply with the applicable requlrements concerning the form and content of accounts set out in the Charltles (Accounts and Reports) Regulations 2￿8 other than any requirement that the accounts give a 'true and fair, view whlch is not a matter considered as part of an independent examinatton. I have no concerns and have come acT055 no other matters In connectlon with the examinatlon to which attention should be drawn in this report In order to enable a proper understsnding of the accounts to be reached. Tlmothy M Roge nFCA 18 Saxon Way, Romsey, S0515PT EAsfLEIGH BASICS BANK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Incorne from: Donatlons and le8acies Interest receivable 219,577 942 197,360 Total In¢om• 220,519 197,360 Charitable acdvitles 262,233 179,239 Net lexpondlture)/lncorne for the year 141,7141 18,121 Fund balances at l January 2023 182.029 163,908 Fund balan¢es at 31 December 2023 140.315 182.029 The statement of flnancial actIvI￿e5 includes all galns and losses reco8n15ed in the year. All income and expenditure derlve from continuing activities. EASTLEIGH BASICS BANK BALANCE SHEEr AS AT 31 DECEMBER 2023 2023 2022 Nole5 Flxed assets Tangible assets 6,834 Current a$$ets Stocks Debtors Cash at bank and In hand 11,875 23,043 2,189 160,890 io 121,827 134,366 186,122 Credltors: amounts falllni due wlthln one year li 18851 14.0931 Net current asset5 133,481 182,029 Total assets le55 current Ilabllltks 140,315 182,029 Income fvnd$ Unrestricted funds 140,315 182,029 140,315 182.029 The account5 were approved by the Trustees on 23 September 2024 ,•*.iJir Mr Chrls Goodhead Trustee Charity Reilstratlon No. 1158825 EA5TLEIGH BASICS BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountin8 policies Company infomiation Ea5tleigh Basics Bank is a Charitable Incorporated Organisatton registered on 9 October 2014. 1.1 Accountln8 conventlon The accounts have been prepared in accordance with the charity's constitution. the Charities Act 2011 and "Accounting and Reporting by Charltie5'. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective January 2019. The charity Is a Public Benefit Entity as defined by FRS 102. The financlal stotements are prepared in sterlin8, whlch Is the functional currency of the charity. Monetary amounts In these financial statements are rounded to the nearest £. 1.2 Golng concern At the tlme of approvln8 the accounts, the trustees have a reasonable expectation thal the charity has adequate resources to continue in operatlonal existence for the foreseeable future. Thus the trustees continue to adopt the goin8 concern basis of accoundng In preparing the accounts. 1.3 Charltable funds Unre5trlcted funds are avallable for use at the discretion of the trustees In furtherance of thelr charitable objectives. Restricted fund5 are subject to specific conditlons by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income Is recognised when the charlty Is legally entltled to it after any performance conditions hwe been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donafjons are recognised on receipt. Other donations are recogni5ed once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable ir) relation to donations received under Gift Aid or deed5 of covenant is recoEnised at the tlme ofthe donation. EASTLEIGH BASICS BANK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountln8 pollcles Icontlnued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructlve obligation to transfer economic benefit to a third party, it Is probable that a transfer of economic benefits will be required in 5ettlemenL and the amount of the obligation can be measured reliablv. Expendlture Is recognlsed on an accruals basis as a Ilabllity is incurred. 1.6 Trnglble ffxed assets Tangible fixed assets are initlally measured at cost and subsequently measured at C05t or valtgtlon, net of deprecSation and any impairment losses. Depreciatlon Is recognlsed so as to write off the cost or valuation of assets less their resldual values over their useful lives on the following bases: Motor vehlcles 4 years stral8ht line The gain or loss arisin8 on the disposal of an asset is determined as the difference between the Sale proceed5 and the carryin8 value of the asset, and15 recognised In the statement of flnanclal activiles. 1.7 Stocks Donated stocks distrlbuted durin8 the year and held at the year end are slated at fair value i.e. an approximation to their shop cost, discounted where approprlate. Donatlons and le8atles 2023 2022 Monetsry donations and gifts Donated stocks 55,972 163,605 63,073 134,287 219,577 197,360 EASTLEIGH BASICS BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Investments Unr•5trlcted funds Total 2023 2022 Interest receivable 942 Chayltsble artfvltles 2023 2022 Stocks dlstrlbuted Insurance Rent and rates Utllities Shop and storage costs Membershlps Prlnting and adverdsing Legal and professional costs 239,968 714 14,449 3.338 2,907 156,258 526 14.226 1.374 164 374 106 275 3,577 262,233 179,239 Included above are amounts payable to the Independent Examlner of £500. Trustees None of the trustees lor any persons connected with them) received any remuneration durin8 the ye or prior year, and were not relmbursed for any expense5 incurred on behalf of the charity. The charity pays a trustee indemnity premium as part of its general insurance cover. Employees There were no employees durin8 the year or prior year. Ea5tleigh Basics Bank is run entlrely by volunteers. io EASTLEIGH BASICS BANK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Taxatlon The charity is exempt from tax on income and gains falling within sectlon 505 of the Taxes Act I9￿ or secfjon 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to It: charitable objects, Tanglble fixed assets Motorv•hl¢h• Cost Additions 6,834 At 31 December 2023 6,834 Carryln8 amount At 310ecember 2023 6,834 stocks 2023 202Z Food and toiletrle5 etc, for distrlbutton 11,875 23,043 10 D¢btors 2023 2022 Amounts falllni due wlthln one year: Prepayments and accrued income 664 2.189 11 Creditors: amounts falllng due wlthln one year 2023 2022 Other creditors 885 4,093 12 Operatlng lease commltments As at 31 December 2023 the charity had total operating lease commitments of £37,78312022'. £51,083) in respect of a lease expiring within five year5. li